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EOS Rises After Binance Adds Tether Integration

Binance brings EOS exposure to the most prominent stablecoin in the ecosystem.

EOS Continues to Climb

On the back of Binance integrating Tether (USDT), the EOS token has risen 11% in the last two weeks and 13% in the last week, according to CoinGecko.

Binance opened USDT stablecoin deposits and withdrawals to the EOS network on Dec. 6. This opening was a catalyst to push the EOS token above $1 for the first time in a month.

The token initially rose past a dollar, fell back below, and has since rallied to hold above the mark at $1.05.

EOS has a market capitalization above $1.1 billion, according to CoinGecko. The influx of official USDT–as opposed to wrapped Tether- brings a strong potential for the growth of DeFi on the EOS Network and upward price action to the EOS token.

“The integration of USDT on EOS represents a significant benefit to EOS DeFi, which has achieved limited USDT total value locked (TVL) because large holders didn’t have the onboarding rails to bring EOS-based USDT on-chain,” wrote the EOS Network Foundation in its weekly report from Dec. 10.

The biggest exchange and the biggest stablecoin have powerful exposure for any network. The EOS network focuses on scalability and exposure to previously unattainable trading volume bodes well for growth.

What is is a blockchain and decentralized platform that enables developers to build independent, scalable blockchains and decentralized applications (dApps). The EOS Network is an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. As a third-generation blockchain platform powered by the EOS virtual machine, EOS has an extensible WebAssembly engine for deterministic execution of near fee-less transactions.

Where to find EOS Network:

Website | Twitter | LinkedIn | YouTube |

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